Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

Documents

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Attributes

Year Built 2018
Lease Type NNN
Current / Passing Rent
Lease Expiration 2035-06-30
Remaining Term 14 years, 9 months
Tenant At Home Stores LLC
Building Area
Land Area

Property Description

JLL is pleased to offer for sale the fee simple interest in a freestanding single-tenant At Home located in Pearland, Texas (Houston MSA). At Home Stores, LLC operates on an absolute NNN lease structure with 2% annual rental increases and no landlord responsibilities.

The asset is located within one of the fastest-growing cities in the Houston metropolitan area with affluent demographics. The tenant operates with a guarantee from their parent company At Home Holding III Inc. At Home (NYSE: HOME) is a specialty home décor retail that reported over $1.4 billion in revenue in the fiscal year 2020.

Investment Highlights

  • Long-term absolute NNN lease
  • 2% annual rental increases and no landlord responsibilities
  • At Home (NYSE: HOME) preliminary Q2 earnings - best quarter in history
  • Reported over $1.4 billion in revenue in the fiscal year 2020
  • Site was selected by Corporate At Home to build a new store in 2018
  • Excellent visibility along Broadway Street within a regional retail corridor


Last Updated Date: 31 Aug 2020
Caroline Binning
Caroline Binning
Director, Capital Markets
License details
TX - 601565
Coler Yoakam
Coler Yoakam
Senior Managing Director, Corporate Finance & Net Lease Platform Leader
License details
TX-0592885

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Last Updated Date: 31 Aug 2020

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